SAP Financial platform for VIG in Croatia and group consolidation platform. Krešimir Kolar, Član Uprave/Member of the Management Board

Transcription

1 SAP Financial platform for VIG in Croatia and group consolidation platform Krešimir Kolar, Član Uprave/Member of the Management Board 1

2 Targets of SAP FI/COAA platform in HR Harmonization of accounting processes and posting logic Comparability Uniform disclosures Improvement of transparency (Group accounting and consolidation) Standardization of SAP interface structure for some common applications Insurance aplication payrolls Preparation of automatic Consolidation for VIG Time efficency General, simple guidelines for integration of new companies into the platform 2

3 Process classification For further investigations 20 main accounting processes were predefined and structured into 5 groups: Underwriting result (premium, claims, commissions, technical reserves) Asset accounting, Financial investments, Taxes, Personnel cost Co-insurance, Re-insurance (intragroup balances) Controlling (sales and financial controlling, function split, cost centers) Receivables, Liabilities, Accruals, Periodic closing Reporting framework (group and local) 3

4 Project structure Step 1: AS-IS analysis During Process workshops the main accounting processes are analyzed and documented, in terms of: Process steps IT structure Organizational structure Output documents: Process workflows 4

5 Process analysis (example) Business Flowchart Premiums via sales channel Organizational structure PAGE 1 HQ Koop, Megaline S S N I I Creation Creation and and print print offer offer (sales (Inspector channel) ) Change offer to to policy Policy printing Create accounting notes sep. for ramura, policy, objective, risk IT STRUCTURE N T C O U SAP I Z W SAP (excell) I X I ZF W Imprt Import acc.notes grouped grouped by insurance by ins.class (curr. monthly (curr monthly ) CClient requests offer Offer Offer negotiation negotiation Hand Hand over policy over to policy client to client 5

6 Project structure Step 2: Gap analysis Comparison of business processes and postings per company Balance sheet P & L Positions Identification of related IFRS positions according reporting template (group IAS/IFRS manual) Design SAP platform solutions for each country System lanscape Output documents: Harmonization reports Accounting procedures Group requirement DW Harmonization charter Implementation Law 6

7 Project structure Step 3: Platform Blueprint Out of the Harmonization charter main integration topics are defined. Based on these decisions the conceptional gaps are finalized and documented in the Platform blueprint. Output: Platform blueprint Approval 7

8 Project structure Step 4: Integration and customizing Work focus on: Company customizing Interface development (SAP and insurance contract system) Integration test Data transfer und Cut over scenario BW / BI 8

9 Project benefits (1) The SAP Financial platform for KVIG/HR companies will realize benefits on local as well as on international level Integration of new companies in HR platform Transparent business processes, interfaces and posting procedures Intensive international cooperation / teamwork Savings in implementation, maintenance and training efforts / costs Enabling Croatian IT platform : Easier implementation of other potential SAP applications (HR, CFM, MM) 9

10 Project benefits (2) Benefits on international level: Clear guidelines in terms of VIG group requirements Standardized process project structure Harmonization topics are defined Training scope is clearly defined (processes), saving costs Structured integration of external consultants, saving costs provides basics for User support and system maintenance, saving costs 10

11 11 Group consolidation platform

12 1. Group accounting and reporting framework Group chart of accounts mapped to local c/a (one-to-one) Uniform and comparable posting procedures Group IAS/IFRS manual (group accounting policies) 12

13 2. Group consolidation view result of implementation Croatia Kvarner VIG L/NL Group Consolidation Balance Sheet P/L Cosmopolitan L Helios L/NL Assets L / NL Romania Company 1 L/NL Company 2 L/NL Company 3 L/NL Poland Company 1 L/NL Company 2 L/NL Company 3 L/NL Poland Company 1 L/NL Company 2 L/NL Company 3 L/NL Liabilities L / NL Automatically consolidation saves time (on both local and group level) Offers enough time for balance sheet politic Avoids errors which occurs during manual data transfer Transparency Comparebilty Consistency 13

14 3. Country view Croatia Kvarner VIG L G R O U P L O C A L NL Cosmopolitan L C H A R T O F C H A R T O F Balance sheet and income statement Version IFRS Fullfil the Group reporting requirement Helios L NL Strictly separated by the authorisation concept Each company can have his own business case procedures All on 1 server, centralized SAP support in Vienna Cost and time efficient A C C O U N T A C C O U N T 14

15 4. Company view Kvarner VIG L Group Chart of Account Balance sheet and income statement Version IFRS Fullfil the Group reporting requirement NL Local Chart of Account Balance sheet and income statement local insurance Act Version Fullfil the local requirements (e.g. HANFA regulatory reporting) 15